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For Commonwealth Bank Annual Report LUULUU 1. What is the accounting standard used to report the financial statements and whe

questions 1, 2 and 3 please. commonwealth bank bahamas annual report 2017 has to be read online in order to answer the questions.

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Answer #1

Ans. 1: Accounting Standard used to report the financial statement are given on page no. 38 to 39. These pages deal Notes to Consolidated Financial Statements. Therein under section 2 (Summary of Significant Accounting Policies) applied IFRS Standards 9, 15,16 & 17 are detailed in Para a, which deals with Basis of Preparation.

Ans.2: The following types of information is being reported in the Annual Report:

1. Strategic Priorities

2. Financial Highlights

3. Executive Chairman's Report

4. President Report

5. Key People information under section "Our Champions".

6. Management Discussion & Analysis

7. Detail about of Board of Directors

8. Executive Team information

9. Assistant Vice Presidents

10. Branch & Department Managers information

11. Management Responsibility for Financial Reporting

12. Financial Statements

13. Committee Report

Ans. 3: There are 5 line of business or segment in which Commonwealth Bank is involved:

1. Retail Banking.

2. Credit Life Insurance.

3. Real Estate Holding.

4. Investment Holding.

5. Insurance Agency Operations.

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